IAS 30

Under IAS 30, banks were required to provide specific disclosures in their income statements and balance sheets that went beyond the requirements for general commercial enterprises.^[4]

Banks were required to group income and expenses by nature and disclose the amounts of principal types of income. Specific balance sheet items required to be disclosed included:^[5]

• Cash and balances with the central bank.
• Treasury bills and other eligible bills.
• Loans and advances to customers and other banks.
• Deposits from other banks and other depositors.

A critical component of IAS 30 was the requirement to provide an analysis of assets and liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date.^[6]

Furthermore, banks had to disclose the nature and amount of any significant concentrations of their assets, liabilities, and off-balance sheet items, often categorized by geographical area or customer groups.^[7]

The IASB decided to withdraw IAS 30 to consolidate all financial instrument disclosure requirements into a single standard. The board noted that many of the disclosure requirements in IAS 30 were relevant not only to banks but to all entities that held financial instruments.^[8]

While IFRS 7 carried over many of the principles found in IAS 30—such as the emphasis on risk management and liquidity—it simplified the requirements and applied them to all sectors, ending the era of a dedicated disclosure standard for the banking industry.^[9]